[JPMorgan: Bitcoin Futures Oversold, Silver Turns Overbought, Long-Term Gold Target Price at $8,500] According to The Block, JPMorgan analysts stated that Bitcoin futures appear to be oversold, while gold and silver futures have entered overbought territory, as investors increasingly favor precious metals over Bitcoin across both retail and institutional channels. Although precious metals face short-term risks, analysts remain optimistic about gold's long-term outlook. They noted that both private investors and central banks are steadily increasing their allocation to gold. The analysts reiterated that if households continue to substitute gold for long-term bonds as a hedge against equities, private investors' allocation to gold could rise from the current slightly above 3% to approximately 4.6% in the coming years. In this scenario, analysts believe the theoretical price range for gold could reach $8,000 to $8,500 per ounce.